January NYMEX Natural Gas Futures Contract Closed at $2.442 on Wednesday, December 9th

Wednesday, December 9th saw the front-month NYMEX Natural Gas Futures Contract open at $2.501, ten cents above Tuesday’s closing price $2.399.  Recording an intraday high of $2.508 at 9:20AM, prices trended lower throughout the day as market fundamentals remain stagnant.  Falling to an intraday low of $2.434 at 2:20PM, the January contract closed higher on Wednesday at $2.442.

The EIA Natural Gas Storage Report is due out today at 10:30AM. The report is expected to show an 80 BCF withdrawal from storage for the week ended December 4th. This compares to a 73 BCF withdrawal at this time last year and a five-year average injection amount of 61 BCF.

As of 6:45AM EST this morning in Globex, WTI Crude was up 66 cents; Natural Gas was up one cent; Heating Oil was up two cents; and Gasoline was up three cents.

Natural Gas Glossary
Natural Gas Supplier
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.

This market update is provided for information purposes only and is not intended as advice on any transaction nor is it a solicitation to buy or sell commodities. Sprague makes no representations or warranties with respect to the contents of such news, including, without limitation, its accuracy and completeness, and Sprague shall not be responsible for the consequence of reliance upon any opinions, statements, projections and analyses presented herein or for any omission or error in fact. The views expressed in this material are through the period as of the date of this report and are subject to change based on market and other conditions. This document contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance or results and actual results or developments may differ materially from those projected. The whole or any part of this work may not be reproduced, copied, or transmitted or any of its contents disclosed to third parties without Sprague’s express written consent.